Uzbekistan tightens control over money transfers

Uzbekistan is set to enhance oversight on payment system transactions. This decision is outlined in a resolution jointly developed by the Central Bank's management and the Economic Crimes Department under the Prosecutor General's Office. The document is titled “Rules for Internal Control in Payment System Operators, Electronic Money System Operators, and Payment Organizations to Combat the Legalization of Criminal Proceeds, Financing Terrorism, and the Proliferation of Weapons of Mass Destruction.”

Under the resolution, payment organizations must take independent measures to verify customers in the following cases:

• When individuals apply to create an account via a payment system mobile application.
• When businesses delivering goods and services request the use of electronic terminals (E-POS).
• For transactions exceeding 500 times the Base Calculation Amount (BCA) (approximately 187.5 million UZS) without creating or using a mobile account.
• When there are doubts about the accuracy or sufficiency of previously obtained customer information.

For internal electronic money transfers exceeding 30 times the BCA (approximately 11.25 million UZS), service providers must attach details about the sender and recipient, including account numbers or transaction identifiers.

• For individuals: passport or ID card details, including series, number, date, and place of birth.
• For legal entities: name and taxpayer identification number (TIN).

Transfers up to 30 times the BCA must also include both sender and recipient information.

Payment system operators, electronic money system operators, and payment organizations are required to set the level of accuracy in their information systems based on the risk level of each service or transaction. Each element of participant identification data must be specified separately.

This resolution will come into force on July 2, 2025.